Director snaps up Wolfson shares

ONE of Wolfson Microelectronics’ non-executive directors has chipped in to buy his third batch of shares since April.

Glenn Collinson, right, who joined the board in 2008, spent £30,359 buying 19,850 shares at just over 152.9p each in the Edinburgh-based chip designer, which makes components for mobile phones, tablet PCs and hi-fi systems.

Collinson began his buying spree at the end of April, spending £86,000 to snap up his first 40,000 shares at 215p a piece.

He returned to the market in June to buy a further 38,000 shares at about 178.9p a pop, at just under £68,000.

His latest purchase takes his total holding to just under 0.1 per cent of the company.

In 1998, Collinson was one of the founders of Cambridge Silicon Radio, guiding the bluetooth specialist through to its floatation in 2004.

One of Wolfson’s executive team has also bought shares this year. Chief executive Mike Hickey and his wife, Julie, acquired 6,275 shares each in June at 167p each, spending £20,958.

The purchase took the couple’s holding to 145,689 shares or 0.13 per cent of the company, with 87,914 held in Hickey’s name and 57,775 by his wife.

Wolfson’s share price has fallen from a 52-week high of 312p in February, plunging in June and July following a pair of profit warnings as electronics giants delayed the launch of new gadgets due to the slowdown in consumer spending.Shares closed up 7.1 per cent at 162.5p.